For individual investors in the UK

CTY The City of London Investment Trust plc

Renowned for its record-setting annual dividend increases since 1966, the Company targets long-term income and capital growth

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ISIN
GB0001990497

Share price
388.50p
As of 03/10/2023

Estimated NAV
385.80p
As of 03/10/2023

Discount / Premium
0.70%
As of 03/10/2023

Yield
5.20%
As of 03/10/2023

Overview

INVESTMENT OBJECTIVE

The Company’s objective is to provide long-term growth in income and capital, principally by investment in equities listed on the London Stock Exchange. The Board fully recognises the importance of dividend income to shareholders.

The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. Potential investors must read the latest annual report and where relevant, the key investor information document before investing. This website is for promotional purposes and does not qualify as an investment recommendation.

2023 ANNUAL GENERAL MEETING

We are pleased to invite you to attend The City of London Investment Trust plc’s 2023 Annual General Meeting, taking place at 2.30pm on Tuesday, 31 October 2023.

The meeting will be held at the Company’s registered office, 201 Bishopsgate, London EC2M 3AE and will include a presentation by the Fund Manager, Job Curtis, and Deputy Fund Manager, David Smith. Any shareholder who is unable to travel is encouraged to join virtually by Zoom. If you wish to join the AGM by Zoom, please register at Investment Trusts live in advance, entering your shareholder details.

As is our normal practice, there will be live voting for those physically present at the AGM. Due to technical restrictions, we cannot offer live voting by Zoom, and we therefore request all shareholders, and particularly those who cannot attend physically, to submit their votes by proxy, ahead of the deadline of 2.30pm on Friday, 27 October 2023, to ensure that their vote counts at the AGM.

For more details, please see the Notice of AGM within the Documents section listed below. If you would like to submit any questions in advance of the AGM, you are welcome to send these to our corporate secretary at itsecretariat@janushenderson.com.

ABOUT THIS COMPANY

  • Invests mainly in UK equities with a bias towards large, multinational companies
  • A conservative management style that prioritises sustainable income and long-term capital growth
  • Provides UK investors with exposure to global growth through the portfolio’s overseas revenues
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RATINGS AND AWARDS

The City of London Investment Trust plc has been awarded the Kepler Income and Growth Rating for 2023.
Find out more about the methodology behind the award here.

Source: Morningstar, Kepler calculations, 01/01/2022 - 31/12/2022
Past performance does not predict future returns.

The City of London Investment Trust plc has been awarded the AIC Dividend Hero award for 56 years of dividend growth.
Find out more about the methodology behind the award here.

Source: AIC, Morningstar calculations, 15/02/2023
Past performance does not predict future returns.

The City of London Investment Trust plc has been awarded the FundCalibre Elite Rating for 2023.
Find out more about the methodology behind the award here.

Source: FundCalibre calculations, 01/01/2023
Past performance does not predict future returns.

This is not substantive investment research or a research recommendation, as it does not constitute substantive research or analysis. Performance records are detailed on the specific KID, fees and charges may vary and further information can be found in the company’s prospectus and KID which must be reviewed before investing.

Past performance does not predict future returns. 
 
Past performance does not predict future returns. 
 

LATEST INSIGHTS

Knowledge Shared

At Janus Henderson, we believe in the sharing of expert insight for better investment and business decisions. We call this ethos Knowledge Shared.

View more City of London Investment Trust insights

ANNOUNCEMENTS

View the latest announcements for this Company:

London Stock Exchange

FREQUENTLY ASKED QUESTIONS

Source: Morningstar. Ratings updated quarterly.

PORTFOLIO MANAGEMENT

Job Curtis

Job Curtis

Portfolio Manager

Industry since 1983. Joined Firm in 1987.

David Smith, CFA

David Smith, CFA

Portfolio Manager – Henderson High Income | Deputy Portfolio Manager - The City of London Investment Trust

Industry since 2002. Joined Firm in 2002.

Performance

Past performance does not predict future returns.
Discrete Performance (%)
As of 30/06/2023
Net Asset Value Price
 
Quarter End
As of 30/06/2023 		2022/2023 2021/2022 2020/2021 2019/2020 2018/2019
Net Asset Value 4.51 7.53 20.04 -14.59 2.71
Price 4.06 7.74 21.25 -16.23 3.01
© Morningstar 2023. All rights reserved. The Price and Net Asset Value are total returns. YTD returns are calendar year.
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
Cumulative Performance (%)
As of 31/08/2023
NAV (Net) Price (Net)
 
As of 31/08/2023 1MO 3MO YTD 1YR 3YR 5YR 10YR
NAV (Net) -1.91 -0.12 0.06 3.32 38.04 19.34 74.36
Price (Net) -2.48 -0.65 -0.87 3.30 41.36 19.37 71.75
© Morningstar 2023. All rights reserved. The Price and Net Asset Value total returns.
Note that any differences among portfolio securities currencies, share class currencies and costs to be paid or represented in currencies other than your home currency will expose you to currency risk.  Costs and returns may increase or decrease as a result of currency and exchange rate fluctuations.
Fund charges will impact the value of your investment. In particular, the ongoing charges applicable to each fund will dilute investment performance, particularly over time.
DIVIDENDS
Ex Dividend Date Pay Date Amount div p/ps
26-Oct-23 30-Nov-23 5.05
27-Jul-23 31-Aug-23 5.05
27-Apr-23 31-May-23 5.05
26-Jan-23 28-Feb-23 5.00
27-Oct-22 30-Nov-22 5.00
04-Aug-22 31-Aug-22 5.00
28-Apr-22 31-May-22 5.00
27-Jan-22 28-Feb-22 4.80
28-Oct-21 30-Nov-21 4.80
05-Aug-21 31-Aug-21 4.80
29-Apr-21 28-May-21 4.80
28-Jan-21 26-Feb-21 4.75

Portfolio

Top Holdings (As of 31/08/2023)
% of Fund
Shell 4.02
BAE Systems 3.80
Unilever 3.76
British American Tobacco 3.44
RELX 3.25
HSBC 3.25
Diageo 3.15
AstraZeneca 3.06
BP 3.04
Tesco 2.61
View full holdings
References made to individual securities do not constitute a recommendation to buy, sell or hold any security, investment strategy or market sector, and should not be assumed to be profitable. Janus Henderson Investors, its affiliated advisor, or its employees, may have a position in the securities mentioned.
Sector Allocation % OF FUND % OF FUND (As of 31/08/2023)
Country/Geographic Exposures % OF FUND % OF FUND (As of August 31, 2023)

Documents

Related Insights

Our intellectual capital is readily available and central to our Knowledge Shared approach"
Related Insights
The City of London Investment Trust plc: Full-Year Results 2023
18 Sep 2023
Investment Insights

The City of London Investment Trust plc: Full-Year Results 2023

Portfolio Manager, Job Curtis, discusses the full-year results for The City of London Investment Trust plc (CTY), including performance over the period and dividend outlook. Curtis also discusses how the Company has navigated the choppy UK market through the period, and areas of opportunity.

7 min read

Dividends that keep on growing – whatever the economic weather
31 Aug 2023
Investment Insights

Dividends that keep on growing – whatever the economic weather

The City of London Investment Trust has increased its dividend every year since 1966, delivering secure and rising income to our investors through thick and thin.

5 min read

The City of London Investment Trust – an unrivalled record for reliable income
11 May 2023
Investment Insights

The City of London Investment Trust – an unrivalled record for reliable income

Everyone has a different vision of their retirement. It may be a chance to travel, to indulge a hobby or help the family, or maybe it’s just to sit back with a cool drink and smell the roses. But whatever your vision, the key ingredient is a reliable income and never more so than in today’s uncertain economic climate.

5 min read

  • ​The value of the Funds and the income from them is not guaranteed and may fall as well as rise. You may get back less than you originally invested.
  • ​Past performance does not predict future returns
  • Third party data is believed to be reliable, but its completeness and accuracy is not guaranteed.
  • If a Company's portfolio is concentrated towards a particular country or geographical region, the investment carries greater risk than a portfolio that is diversified across more countries.
  • Where the Company invests in assets that are denominated in currencies other than the base currency, the currency exchange rate movements may cause the value of investments to fall as well as rise.
  • This Company is suitable to be used as one component of several within a diversified investment portfolio. Investors should consider carefully the proportion of their portfolio invested in this Company.
  • Active management techniques that have worked well in normal market conditions could prove ineffective or negative for performance at other times.
  • The Company could lose money if a counterparty with which it trades becomes unwilling or unable to meet its obligations to the Company.
  • Shares can lose value rapidly, and typically involve higher risks than bonds or money market instruments. The value of your investment may fall as a result.
  • The return on your investment is directly related to the prevailing market price of the Company's shares, which will trade at a varying discount (or premium) relative to the value of the underlying assets of the Company. As a result, losses (or gains) may be higher or lower than those of the Company's assets.
  • The Company may use gearing (borrowing to invest) as part of its investment strategy. If the Company utilises its ability to gear, the profits and losses incurred by the Company can be greater than those of a Company that does not use gearing.
  • All or part of the Company's management fee is taken from its capital. While this allows more income to be paid, it may also restrict capital growth or even result in capital erosion over time.
  • The Company confirms that it currently conducts its affairs so that its ordinary shares of 25p each can be recommended by IFAs to ordinary retail investors in accordance with the Financial Conduct Authority’s (FCA) rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future.
  • The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in an investment trust.
  • For detailed product information including the risks associated with investing please read the relevant Prospectus or Annual Report. Please refer to the AIFMD Disclosure document and Annual Report of the AIF before making any final investment decisions.
  • Some documents are available in alternative formats. Click here for information on how to request them.